The application was filed because the Committee of Creditors (CoC) was considering Mr. Ajit Kumar as the Resolution Professional (RP) instead of confirming Mr. Sunder Khatri, the Interim Resolution Professional (IRP). Mr. Ajit Kumar's appointment was opposed because he is associated with Bank of Baroda, a member of the CoC with 53% voting share.
The Committee of Creditors (CoC) was considering replacing the Interim Resolution Professional (IRP), Mr. Sunder Khatri, with Mr. Ajit Kumar as the Resolution Professional (RP). Mr. Ajit Kumar's appointment was opposed because he is associated with Bank of Baroda, a member of the CoC holding 53% of the voting share. The court raised concerns about the independence of an RP associated with a CoC member. The issue of the IRP's fees and expenses was also raised.
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Order delivered by the…
Notice to the ex-management, director…
The application was filed because the Committee of Creditors (CoC) was considering Mr. Ajit Kumar as the Resolution Professional (RP) instead of confirming Mr. Sunder Khatri, the Interim Resolution Professional (IRP). Mr. Ajit Kumar's appointment was opposed because he is associated with Bank of Baroda, a member of the CoC with 53% voting share.
The Committee of Creditors (CoC) was considering replacing the Interim Resolution Professional (IRP), Mr. Sunder Khatri, with Mr. Ajit Kumar as the Resolution Professional (RP). Mr. Ajit Kumar's appointment was opposed because he is associated with Bank of Baroda, a member of the CoC holding 53% of the voting share. The court raised concerns about the independence of an RP associated with a CoC member. The issue of the IRP's fees and expenses was also raised.
Order delivered by the…
Notice to the ex-management, director…